The Real Deal New York

Buyer of $50M penthouse at 15 CPW just shelled out big money for 432 Park pad

Gongwen Dong is paying $8,190 a square foot at Macklowe Properties, CIM Group's supertall
By E.B. Solomont | July 26, 2017 06:42PM

Why buy one trophy apartment when you can have two?

Hong Kong financial executive Gongwen Dong just shelled out $33 million for a condominium at 432 Park Avenue — just three months after buying a penthouse at 15 Central Park West for $50 million.

Property records show Sandis Holdings LLC — an entity tied to a third New York property owned by Dong — closed on the 4,028-square-foot condo last week, after going into contract in early May. Unit 86A at Macklowe Properties and CIM Group’s supertall condo tower had been on the market since 2014. The purchase price works out to just over $8,190 per square foot.

Dong appears to view the pad as an investment opportunity, and listed it for rent on Tuesday asking $80,000 a month, or $238 per square foot, according to StreetEasy. Douglas Elliman’s Neal Sroka and Vincent Santoro have the listing.

In May, Dong paid $50.5 million for a 5,278-square-foot penthouse at 15 Central Park West that previously belonged to former Barclays CEO Bob Diamond. Diamond — who paid $37 million for the pad — put it on the market in December, asking $59 million.

Dong, who appears to be the CFO of the Hong Kong-based Kam Fei Group, also owns a sprawling mansion in Great Neck, Long Island that he picked up for $6.65 million in 2014. Both condominium purchases are tied to that property, records show.

Dong could not immediately be reached for comment.